Martini Dry Chartering GmbH & Co. KG

Martini Dry Chartering

Martini Dry Chartering was founded in 2005 for the chartering activities
of the Bulk and Car Carriers of the Reederei F. Laeisz. At present the company
handles 4 dry cargo bulk carriers exclusively, ranging from 70.0000 ts to 322.000
ts deadweight. Martini Dry Chartering also manages 8 PCTCs with a capacity of
5.000 cars each. The professional and experienced chartering team operates in
the competitive as well as the FFA markets, in order to respond to the needs of
its customers without delay.

In 2006 Martini Dry Chartering established an earnings pool of Panamax
vessels in order to enhance the results of its members. The pool focuses on the
global trading of both owned and chartered tonnage.

LPG Carriers

Partners

F. Laeisz Group

The F. Laeisz Group has a long and proud history. Originally F. Laeisz was founded in 1824 and started its first shipping business in 1839. Later on F.Laeisz became famous for their “Flying P-Liners” which were fast sailing ships. In 1982 F. Laeisz Schiffahrtsgesellschaft m.b.H. + Co. KG, Hamburg and later on Reederei F. Laeisz G.m.b.H., Rostock were established.

Today the F. Laeisz Group is still active in more or less all markets, managing Bulk, Ro/Ro, Car Carrier, Ro/Pax, Reefer, Gas, Research and Containervessels.

Martini Chartering

Martini Chartering (Est 1995) acts as a competitive broker for various clients worldwide and is the exclusive broker for the container chartering activities of Reederei F. Laeisz and Reederei Leonhardt & Blumberg.

In constant touch with our worldwide clients and their brokers, we maintain our own vessel database of container tonnage and their respective openings. We provide a full range of additional services for our clients, such as expert advice on required tonnage, position lists, full guidance and support to charter party detailed negotiations, active operating/post-fixing, weekly market reports and tonnage/market evaluations etc.

Terms & Conditions

PRIVACY POLICY

PROTECTION OF DATA PRIVACY
Protecting the security and privacy of your personal data is important to us; therefore, we conduct our business in compliance with applicable laws on data privacy protection and data security.

Through our Web sites, we will not collect any personal data about you (e.g. your name, address, telephone number or e-mail address), unless you voluntarily choose to provide us with it respectively, provide your consent, or unless otherwise permitted by applicable laws and regulations for the protection of your personal data. In such cases, we do not sell or otherwise market your personal data to third parties.

COOKIES
We will not store cookies when you visit our web sites.

SERVER-LOG-FILES
When you access our Web sites, the provider may automatically (i.e., not by registration) collect non-personal data,

such as:

type of Internet browser and browser version
operating system used
URL
Hostname (IP)
time
Those data cannot be related to any particular person and they will not be shared with any other data source. However, we reserve the right to retroactively investigate the data if specific indications for illegal activities become known to us.

We do not use any web analysis services.

INFORMATION RIGHTS
Should you have any further questions regarding data privacy protoection in respect of our web site, you can find the contact details in the imprint section.

TERMS & CONDITIONS

Article 1 Scope

(1) These General Terms and Conditions (hereinafter referred to as “General Terms”) shall apply to any and all types of legal relationship (hereinafter referred to as “Assignment”) between Martini Dry Chartering GmbH + Co. KG (hereinafter referred to as the “Ship Broker”, independent of the legal nature of the Assignment), a member company of the German Ship Brokers’ Association (Zentralverband Deutscher Schiffsmakler e.V.) and any other contractual partner which calls upon the services of the Ship Broker (hereinafter referred to as the “Client“), regardless of whether the Assignment of the Ship Broker is non-recurring or continuous.

(2) These General Terms shall apply specifically, but without limitation, to the Assignment
of a Ship Broker as (1) liner agent (including the right to enter into bills of lading in the
name, and/or for the account, of the Client), as (2) port or canal agent and as (3) sale &
purchase broker or chartering broker.

Article 2 Characteristics of Services

(1) In all cases, the Ship Broker shall act on behalf, and for the account, of the Client
unless otherwise agreed in writing.

(2) The Ship Broker is entitled and authorized to take any and all measures which appear
to him to be necessary in order to meet the obligations of the Assignment, including,
without limitation, to entering into market standard contracts with third parties in the
name, and for the account of the Client.

(3) Unless otherwise agreed in writing, any and all offers submitted by the Ship Broker
shall not be binding until the Assignment has become finalized.

(4) In his function as sale and purchase broker or chartering broker, the Ship Broker shall
have the authority to conclude contracts on behalf of the Client unless the Client has
explicitly excluded same.

(5) The Ship Broker is exempted from the restrictions of Article 181 of the German Civil
Code (Bürgerliches Gesetzbuch, BGB).

(6) The Ship Broker is authorized, but not obligated, to collect sums due to the Client from
third parties and to accept payments from third parties for the Client. The Ship Broker
has the right to pay out to the Client any foreign-currency amounts he has collected for
the Client in Euros at the exchange rate valid on the date of payment.

(7) The Ship Broker is under no obligation to provide financial guarantees or contracts of
surety to third parties for the Client or to make any payments for which the Client has
not provided sufficient cover to the Ship Broker in advance, or for which the Client has
not provided collateral which the Ship Broker, in his fair judgment, considers to be
sufficient.

Article 3 Remuneration, Compensation for Expenses

(1) The Ship Broker shall receive as remuneration for his services an amount to be agreed
upon between the Parties unless otherwise mandatorily provided for in collective
agreements or statutory regulations.

(2) For any and all financial guarantees, sureties or disbursements of the Ship Broker, the
Ship Broker shall be entitled to additionally receive a commission fee of at least 2.5%
of the nominal value of the security provided.

(3) All costs incurred in connection with bank transfers made by, to or for the Client shall
be borne by the Client.

(4) In addition to his entitlement to remuneration and a commission, the Ship Broker shall
be entitled to demand from the Client the reimbursement of any and all expenses which he has reasonably incurred during the performance of the Assignment.

(5) The Ship Broker has the right to demand that a reasonable advance be paid for the
expenses set forth in Clause 4.

(6) In the event that a specific currency has not been agreed regarding the Ship Broker's
remuneration, the Ship Broker can, at his option, demand payment in the currency of the transaction upon which his remuneration (e.g. commission) is based, or in euros at the exchange rate valid on date of the invoice to the Client. The Ship Broker can demand compensation for expenses, at his option, in the currency in which these were incurred or in euros at the exchange rate valid on the date of the invoice to the Client. Commission claims based on the provision of security shall be deemed to have arisen in the currency of the relevant security.

(7) The Ship Broker’s claims for payment shall be deemed due upon the receipt of the Ship Broker’s invoice by the Client. Receipt through electronic channels is sufficient in this context.

(8) Any payment claims of the Ship Broker which are not settled by the Client within 21 days of the invoice date shall be subject to interest from the date of the invoice at a rate of 9 percentage points above the base rate valid at the time.

Article 4 Offsetting, Right of Retention, Lien

(1) The Ship Broker is entitled to satisfy his claims at any time from their due date onwards
by offsetting these against counterclaims of the Client.

(2) The Ship Broker is also entitled to satisfy due and payable claims against the Client, or
companies in which the Client directly or indirectly holds a majority share, or against
companies which directly or indirectly hold a majority share in the Client, doing so from
amounts collected by him for the Client (e.g. freight charges). In addition, the Ship
Broker has a right of retention.

(3) Notwithstanding any rights of retention or lien to which the Ship Broker is entitled on
other legal grounds, the parties hereby agree that, in relation to all claims of the Ship
Broker against the Client, the Ship Broker shall have a contractual lien on any and all
assets of the Client which are in, or come into, the possession of the Ship Broker,
independent of the legal basis for same and independent of the date upon which such claims have arisen.

(4) At his option, the Ship Broker has, after the due date, the right to enforce the lien by
selling the pledged property by way of private sale or public auction if the Client has not
made payment in full, or provided other security to the satisfaction of the Ship Broker,
within 30 days of the receipt of a written reminder setting a final date for payment of at
least 20 days under notification of the subsequent enforcement of the lien.

Article 5 Liability of the Ship Broker

(1) The Ship Broker shall perform his services with the diligence of a prudent businessman
and shall carefully choose the individuals with whom he entrusts the performance of his
obligations.

(2) Claims for damages, or reimbursement of expenses, of the Client against the Ship Broker, his official bodies, his employees or other vicarious agents are excluded unless they arise due to an act committed by the Ship Broker, his official bodies, employees or vicarious agents, which act constitutes

a. an intentional or grossly negligent breach of duty;

b. a culpable breach of duty resulting in an injury to life, body or health;

c. non-fulfillment of a guaranteed characteristic; or

d. the culpable violation of a fundamental contractual obligation. Fundamental contractual
obligations (cardinal obligations) are deemed those obligations the proper Performance
of which is indispensable in enabling the relevant contract entered into on the basis of
these General Terms to be performed and upon the compliance with which the Client
customarily relies.

(3) The damages for the violation of a fundamental contractual obligation (cardinal
obligation) on the part of the Ship Broker (Article 5 Clause 2 Sub-clause d.) is limited to
such damage as is foreseeable and may typically occur in such contracts. This shall not apply in the event that the Ship Broker is liable for an intentional or grossly negligent breach of duty (Article 5 Clause 2 Sub-clause a.), for injury to life, body or health (Article 5 Clause 2 Sub-clause b.), or for a characteristic which the Ship Broker has guaranteed (Article 5 Clause 2 Sub-clause c.). Damage is deemed foreseeable if it is the type of damage which can normally be expected to occur given the breach of the standard obligation.

(4) The risk of incomplete, incorrect or delayed communication of information between
Client and Ship Broker, specifically including, without limitation, the use of postal or
electronic channels, shall be borne by the Client. This shall not apply in the event of
liability arising as set forth in Clause 2 Sub-clauses a. to d. above.

(5) The provisions of the foregoing Clauses 1 through 4 shall not reverse the burden of
proof to the detriment of the Client.

Article 6 Special Liability for Forwarding Services

(1) If the Ship Broker provides forwarding services in conjunction with his Assignment, his
liability in this respect shall be governed by the German Freight Forwarders’ Standard Terms and Conditions 2016 (Allgemeine Deutsche Spediteurbedingungen, ADSp 2016) of the German Freight Forwarders and Logistics Association (Deutscher Speditons- und Logistik-verband, DSLV). In deviation from the provisions of the German Commercial Code (Handelsge-setzbuch, HGB), Clause 23 of the ADSp 2016 limits, inter alia, statutory liability for the loss of or damage to goods which are in the care of a forwarder for multimodal transport that includes maritime transport to 2 units of account per kg of the goods. Furthermore, Clause 23 ADSp 2016 limits liability for loss of or damage to goods to one million Euros per case of damage and two million Euros per event, or respectively to 2 units of account per kg, whichever sum is the greater.

(2) A unit of account within the meaning of this Article 6 is the special drawing right (SDR)
of the International Monetary Fund.

(3) The Ship Broker will provide the Client with the text of the ADSp 2016 without delay
and at no cost for the Client upon request.

Article 7 Time Bar

All claims against the Ship Broker, his official bodies, his employees and his other vicarious agents shall, independent of legal grounds, become time-barred upon expiry of one year from the relevant statutory beginning of the period of limitation unless any of the cases of liability as set forth in Article 5 Clause 2 Sub-clauses a. to d. has arisen.

Article 8 Embargos and Sanctions

(1) The Client warrants that the transaction which is being performed in connection with
the Assignment of the Ship Broker does not violate statutory rules or regulations,
particularly including, without limitation, any economic, trade or financial sanctions with
which the Ship Broker must comply (hereinafter collectively referred to as “Prohibitive
Legislation”).

(2) The Ship Broker shall not be under obligation to perform any Assignments which violate the Prohibitive Legislation or in relation to which the Ship Broker has reason to suspect that a violation may occur. In the event of a refusal, the Ship Broker shall be entitled, notwithstanding the partial or non-performance of the Assignment, to claim from the Client the reimbursement of any and all expenses which he has incurred in connection with the Assignment.

Article 9 Dangerous Goods

The Client shall inform the Ship Broker immediately and without delay in writing if the
Assignment involves any items or goods which require special handling in regard to their
receipt, loading, discharge, storage, transport or delivery, or for which notification or a Permit is required. This shall specifically include, without limitation, dangerous goods as defined under the International Maritime Code for Dangerous Goods (IMDG Code).

Article 10 Confidentiality

The Ship Broker is required to treat as confidential only such information and data of the
Client which the Client has specifically identified as confidential in writing.

Article 11 Written Form

Any amendments of supplements to these General Conditions or to the contract of which
these General Conditions are an integral part must be made in writing in order to be valid.
This shall also apply to the nullification of or any amendments to the requirement of the
written form.

Article 12 Place of Jurisdiction, Applicable Law

(1) Any and all disputes between the Ship Broker and the Client arising from or in connection with an Assignment shall be decided exclusively by the state court competent at the location of the Ship Broker’s place of business as entered in the Register of Companies.

To the extent that Art. 31 of the CMR or Art 46 § 1 of the CIM is applicable, the place of
jurisdiction set out in the foregoing sentence shall not be exclusive, but additional. As
far as Art. 39 of the CMR, Art. 33 of the Montreal Convention or Art. 28 of the Warsaw
Convention are applicable, the first sentence of this Clause shall not apply. Further, the
first sentence of this Clause shall not apply if a different place of jurisdiction is provided for in mandatory statutory law.

(2) As an alternative to the place of jurisdiction agreed in Clause 1, the Ship Broker is free, based on his own discretion in the individual case, to bring an action at the state court within the general jurisdiction of the Client.

(3) The Assignment of the Ship Broker shall be governed exclusively by German law,
notwithstanding that the respective services may have been performed or are to be performed abroad in part or in their entirety.